The Condominium Initiative focuses on strategies to ensure that condominium owners can preserve and maintain their homes. Assuming a sales price ceiling of $500,000, existing condominiums provide the most likely source of affordable ownership opportunities to low– and moderate-income households in Arlington.
Process and Goals
This initiative includes three major elements:
Build organizational capacity by providing resource materials, classes, workshops, direct technical assistance, and conducting outreach to association management, prioritizing condos primarily owned by low or moderate-income owners;
Promote capital improvements by developing strategies and programs that help support maintenance and renovation needs in existing affordable condos; and
Develop programmatic approaches for direct support by establishing cost-effective methods to provide direct assistance to financially vulnerable low– and moderate-income owners in the context of rising fees and capital expenses.